8 votes

Now Australia Wants Its Gold Back

Gold repatriation has been a hot topic in the last 2 years. After Germany, Venezuela, the Netherlands, Finland, Poland, Ecuador, Switzerland, it could be Australia’s turn.

The latest campaign baseline is “Return Aussie Gold” initiated by an Australian volunteer. On his campaign site he writes the following:

There is unprecedented structural change underway in the international gold market due to growing uncertainty around the global financial system. There are also substantial reasons for concern associated with storing Australia’s Gold Reserves in London.

Where is Australia’s gold and how much room is needed to store it on Australian soil?

Australia has 80 tonnes of gold which is managed by the Reserve Bank of Australia (RBA) as part of its foreign reserves assets. The RBA’s PR department has stated that Australia’s 80 tonnes of Gold Reserves is stored at the Bank of England, in London for cost efficiency and security reasons. However, Australia has international standard bullion storage facilities with capacity to store Australia’s gold at cost competitive rates. Also the cost to build a new Federal Government owned facility is negligible when compared to the current value of Australia’s gold ($3.3 billion).


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Where's the gold?..Well Ol' Mate

It's like this, if you're going to bitch 'n' moan about 80 tons of gold, considering you have so much still in the ground, along with that yellow cake uranium, which is ever so handy, and what's this about Linc Energy discovering $359 billion in shale oil deposits..
wait up a minute..
(pssst..that list, you know the seven countries in five years..better revise it to eight.)
hello..ok, well leave it with me..you'll be hearing from us soon.

"Hell is empty, and all the devils are here" (Shakespeare)
RP 2012~ Intellectual Revolution.

Crikey !!!

Google the Golden Mile or the Super Pit
Lotta gold came out of Kalgoorlie...

The county will heretofore be known as "stralia"

until their gold is returned.

Gilligan's picture

good one!


Google is government.

want another drought?

hold a lighter under someone's ass until they confess "the whole universe is getting warmer!"

People would rather continue to be fooled than admit that they have been fooled in the past.

Sorry mate

No carbon tax, no gold..

"Hell is empty, and all the devils are here" (Shakespeare)
RP 2012~ Intellectual Revolution.

I wish...

them luck with that.

Silence isn't always golden....sometimes it's yellow.

"The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them." - Patrick Henry